Mexico has become one of the top destinations in the world, not only for travelers, but also for those looking to own or even rent property.
In fact, over the last decade, property prices have steadily risen thanks to an influx of foreigners, and those buying property for retirement, or for investment purposes. For example, according to Mexperience, “Popular places like southern Baja California, Puerto Vallarta, and the Riviera Maya are continuing to experience high demand as Americans look south for beachfront property of the type that has become unaffordable in the US to all except the ultra-wealthy.”
In addition, investors and retirees are attracted to Mexico because the cost of ownership is far lower than it is in the U.S., in Europe, and in Canada. No wonder top international land investment and development firms are seeing considerable interest in properties in Mexico. Some of the top companies thriving on that demand are International Land Alliance, Inc . (OTCQB: ILAL), Howard Hughes Corp. (NYSE:HHC), Brookfield Property REIT (NASDAQ:BPYU), Zillow Group Inc. (NASDAQ:Z), Realogy Holdings Corp. (NASDAQ:RLGY).
International Land Alliance, Inc . (OTCQB: ILAL) BREAKING NEWS : International Land Alliance, Inc. announced that it has broken ground and started construction on Valle Divino, an eco-friendly development in Ensenada, Baja California, roughly 50 miles south of San Diego.
This community, which will feature 650 homesites, is part of a master planned residential community overlooking the internationally-renowned Bajamar Ocean Front Hotel and Golf Resort, as well as the Pacific Ocean. Valle Divino sits on the western edge of the Guadalupe Valley, Baja’s premier wine region with over 175 wineries. The Company recently completed a second “Test Vineyard” with 14 different grapes, including Malbec, Cabernet Sauvignon, Merlot, Tempranillo, Syrah, Mourvedre, Petit Verdot, Viogner, Bebbiolo, Pinto Not and Zinfandel. Test Vineyards are planted in an effort to see how different grape varieties grow in the same location.
Residential lot prices start at $49,000. Interested buyers are encouraged to visit: https://ila.company/valle-divino-resort/ and make an appointment at the sales office to tour the community.
Mauricio Bustamante, Director of Sales, commented: “We are pleased to add Valle Divino to our current product offering in Ensenada. We are seeing strong interest from retirees and first-time home buyers alike, as well as resurgence in overall traffic to Bajamar. Mr. Bustamante, commented further: “My primary focus for our sales office at Bajamar will be the immediate sales and marketing of “Phase I – Bajamar/Valle Divino.”
“We are negotiating sales and marketing agreement for our Oasis Park Resort, our flagship property, consisting of a 497-acre master-planned beachfront community with picturesque mountain views, located just south of San Felipe, Baja California on the Sea of Cortez, one of the world’s most prolific salt-water habitats. There are approvals to sell up to 1,344 residential home sites approximately ¼-acre each with starting prices of $49,000. In addition to residential lots, there is a planned boutique hotel, timeshare/vacation club, special commercial center and nautical center with boat launch and fishing marina. The Oasis Park Resort is a self-contained solar powered green community that takes advantage of the advances in solar power and green technology. The Company started residential lot pre-sales in Phase I in the second quarter of 2015 and broke ground in May 2016.
Other related developments from around the markets include:
Howard Hughes Corp. (NYSE:HHC) announced operating results for the first quarter ended March 31, 2020. The financial statements, exhibits and reconciliations of non-GAAP measures in the attached Appendix and the Supplemental Information, as available through the Investors section of our website, provide further details of these results. “The first quarter of 2020 saw our company continue its positive momentum from last quarter, which was the strongest in our history, and we were on our way to eclipsing those results prior to the arrival of the COVID-19 pandemic,” said Paul H. Layne, Chief Executive Officer. “Despite the challenges presented by the pandemic, our first quarter of 2020 demonstrates that our financial discipline and prudent actions have us well-positioned for a quick return as we see demand in each of our markets for development and growth. “With the onset of the pandemic, we quickly took action to protect our employees, tenants, customers and communities, as well as further secure the financial footing of our company. A successful common stock offering generated $594 million, which, along with debt financing and overhead reduction, has provided us the liquidity and flexibility to continue to make the best long-term value decisions. In addition, the equity raise gives us the ability to execute on value-creating projects in this challenging environment.”
Brookfield Property Partners (NASDAQ:BPY) announced its intention to commence a substantial issuer bid to purchase up to 74,166,670 of BPY’s limited partnership units from public unitholders for a price of $12.00 per Unit, representing a 17.6% premium to the Unit price on the Nasdaq Stock Market as of market close on July 1, 2020. The total value of the Offer is approximately $890 million. This Offer will also be made to holders of exchangeable limited partnership units of Brookfield Office Properties Exchange LP on an as exchanged basis, and, subject to certain exceptions discussed below, holders of securities that are exchangeable into Units prior to or at the time of the Offer. For greater clarity, the Offer will not be made for Class A Stock, par value $0.01 per share of Brookfield Property REIT Inc., which will be the subject of a concurrent and separate offer by BPYU. BPYU Shares must be exchanged into Units for a holder to participate in this Offer.
Zillow Group Inc. (NASDAQ:Z) resumed buying homes in five more markets , and is now buying homes again in 201 of the 24 markets where Zillow Offers has launched. Home sellers in Los Angeles, Riverside, Calif., Minneapolis, Cincinnati and Orlando can once again sell their homes directly to Zillow with a safe, convenient transaction and on their own timeline. Zillow paused buying homes through Zillow Offers on March 23 in response to housing market uncertainty and public health concerns related to COVID-19. “Home sellers want a more convenient, seamless and safe way to sell their home, and we’re excited to bring Zillow Offers back to more sellers around the country,” said Zillow President Jeremy Wacksman. “The rapid adoption of technology and virtual tools is creating a new and safer landscape for the entire real estate experience. With Zillow Offers, a homeowner can sell their house without any of the traditional hassles of open houses, home showings or prepping a house for sale, and can have more certainty and control than ever before – all on their own timeline. “
Realogy Holdings Corp. (NASDAQ:RLGY) announced AARP Real Estate Benefits from Realogy , the first-ever real estate benefits program designed for the nearly 38 million AARP members, is now live. The new offering allows AARP members to receive $300 to $5,500 when buying or selling a home with a participating agent affiliated with one of Realogy’s trusted residential real estate brands, including Better Homes and Gardens Real Estate, Century 21 , Coldwell Banker , Corcoran and ERA . “Realogy is committed to delivering high quality real estate services to our consumers during these difficult times,” said Katrina Helmkamp, President and CEO of Realogy Leads Team and Cartus. “The AARP Real Estate Benefits from Realogy program, paired with technology used for virtual home showings, is empowering Americans 50 and older to choose how and where they live, but also allowing us to serve them with our expertise even in times of uncertainty.”
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